McDonald's Stock Plummets As Global Comparable-Store Sales Fall 2.2%

McDonald's Corporation (NYSE: MCD) on Monday reported its global-comparable-store sales fell 2.2 percent in November, with declines seen across all major segments.

Shares were down 3 percent at $93.40 in the premarket.

U.S. comparable-store sales fell 4.6 percent due to "strong competitive activity," according to McDonald's press release. The company noted that it is “diligently working” to improve its marketing and menu simplicity while implementing a “locally-drive organizational structure” to improve its relevance with customers.

Europe comparable-store sales fell 2.0 percent as a positive performance in the United Kingdom more than offset “weak” results in Russia and “negative” results in France and Germany. McDonald's stated that its operating environment remains “challenging” across most of the segment.

Asia/Pacific, Middle East and Africa comparable-store sales fell 4.0 percent, mostly due to the ongoing impact of supplier issue performance in Japan and China. McDonald's did see a “positive performance” in Australia.

Finally, McDonald's pointed out that strong comparable sales were seen across Latin American countries and Canada.

McDonald's confirmed it will report its fourth quarter results on January 23, before market open.